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Current account deficit drops sharply to 14.13 bln in 2023 as energy effects moderate
EconomyMacroeconomyGreece’s current account recorded a deficit of 2.25 billion euros in December, from a deficit of 3.3 billion euros in November, Bank of Greece (BoG) data showed on Tuesday. In December 2022, the balance showed a deficit of 2.71 billion euros, while in December 2021 the current account posted
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Industrial turnover drops by 7.2 pct in Dec, pulling 2023 figure 4.1 pct lower
EconomyMacroeconomyThe contraction in Greece’s industrial turnover accelerated in December, dropping sharply by 7.2 percent year-on-year (YoY) from a 2.5 percent decrease in November, according to data released by the Hellenic Statistical Authority (ELSTAT) on Tuesday. This is the ninth successive annual drop
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Record year for tourism in 2023 with 20.46 bln in receipts, 32.74 mln visitors
EconomyMacroeconomyGreece's travel balance recorded a surplus of 114.9 million euros in December, compared to 206.2 million euros in November, according to data released by the Bank of Greece (BoG) on Wednesday. December's balance was 72.1 percent higher than the 66.8 million euros recorded in December 2022
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Budget starts new year on track, timing factors lead to 1.16 bln outperformance
EconomyMacroeconomyThe budget primary balance was confirmed at a surplus of 2.28 billion euros in the opening month of 2024, compared to a surplus of 2.77 billion euros in the same month of 2023, according to the final Finance Ministry (MoF) budget execution data released on Monday. In January, the budget
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Building activity slows in Nov as permits contract by 1.2 pct YoY
EconomyMacroeconomyBuilding permits slowed in November, dropping by 1.2 percent year-on-year (YoY), after rising by 8.7 percent year-on-year (YoY) in the previous month, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Wednesday. Permits grew annually each month of 2023, apart from
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Retail sales recorded 3.7 pct rise in 2023, but volume dropped by 3.3 pct
EconomyMacroeconomyGreece’s retail sales made strong gains in December, in line with the seasonal trend, with a rise of 7.3 percent year-on-year (YoY), after an upwards revised growth of 1.7 percent in November, Hellenic Statistical Authority (ELSTAT) data showed on Thursday. The corresponding volume index recorded
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Producer prices drop for 11 months straight, down 6.6 pct in Jan
EconomyMacroeconomyGreece’s Producer Price Index (PPI) contracted for eleven successive months in January, dropping by 7 percent year-on-year (YoY), after falling by 6.6 percent in December, ELSTAT data showed on Thursday. The index had been growing over a two-year period since March 2021, before it turned negative
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Parties gear up for vote on bill permitting private universities
PoliticsGreek PoliticsMEP Anna-Michelle Assimakopoulou found herself accused of breaching the EU’s General Data Protection
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Despite slowdown, Q4 property price rise pushes 2023 increase to 13.4 pct
EconomyMacroeconomyThe growth in the nominal value of apartments in Greece stayed strong in the last quarter of 2023, increasing by 11.8 percent year-on-year (YoY) from an upwards revised 12.1 percent in Q3 2023, Bank of Greece (BoG) data released on Tuesday showed. This is a slight slowdown from the peak of Q1 2023
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GDP continued to slow in Q4, rise for 2023 at 2 pct
EconomyMacroeconomyGreece’s seasonally adjusted (SA) GDP had marginal gains in Q4, rising by 0.2 percent quarter-on-quarter (QoQ), from a 0.1 percent drop in Q3, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Thursday. The Greek economy has been growing continuously QoQ now since Q2
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